Hong Kong


Hong Kong Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Hong Kong; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankHong Kong Monetary Authority
International ReservesUS$ 277.609 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 244.531 billion (2010 estimate)
GDP (Purchasing Power Parity)347.129 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
8%0.5%1.8%3%8.5%7.1%7%6.4%
2008200920102011*
2.2%-2.7%6.8%5.4%

*Estimate

GDP per capita - current pricesUS$ 34,058 (2010 estimate)
GDP per capita - PPP$48,347 International Dollars (2010 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.3%0.42%0.42%0.44%0.43%

**Forecast

GDP - composition by sector
  • agriculture: 0.1% 
  • industry: 8% 
  • services: 91.9% (2009 estimate)

    • (Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
4.3%(2008)0.5%2.4%5.8%

*Estimate

Unemployment rate
2008200920102011*
3.5%5.2%4.3%(2009)3.6%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
1.4%1.2%3.3%4.8%4.5%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
8.1%0.1%1.6%1.6%1.8%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: AA+/Stable/A-1+

Moody's rating: Aa2

Moody's outlook: RUR+

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$1.163 trillionUS$1.329 trillionUS$2.292 trillion
Largest companies in Hong KongChina Mobile (Telecommunications services), Cnooc (Oil & Gas Operations), Hutchison Whampoa (Conglomerates), Jardine Matheson (Conglomerates), AIA Group (Life & Health Insurance), China Unicom (Telecommunications services), BOC Hong Kong (Major Banks)
(2011)
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ 12.7 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP5.2% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

212.5% (2008)

(Data released on December 2010)

Shares in world total merchandising export2.63%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export2.88%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$388.6 billion f.o.b. (2010 estimate)
Export commoditieselectrical machinery and appliances, textiles, apparel, footwear, watches and clocks, toys, plastics
Total importsUS$387.9 billion (2008 estimate)
Import commoditiesraw materials and semi-manufactures, consumer goods, capital goods, foodstuffs, fuel (most is re-exported)
Exports - major partnersChina 48.7%, US 13.7%, Japan 4.5% (2007)
Imports - major partnersChina 46.3%, Japan 10%, Taiwan 7.1%, Singapore 6.8%, US 4.9%, South Korea 4.2% (2007)
FDI inflows
200820092010
US$59,621 millionUS$52,394 million(2009)US$68,904 million(2009)
FDI outflows
200820092010
US$50,581 millionUS$63,991 millionUS$76,077 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$-1,048 millionUS$7,461 million(2009)US$14,455 million(2009)US$-1,325 million
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

China Unicom Ltd, China Netcom Group Corp (Hong Kong)Ltd, Hong Kong, China, $7.8 billion

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Investor Group, EDF Energy PLC, United Kingdom, $9.1 billion
China Lounge Investments Ltd, Denway Motors Ltd, Hong Kong, China, $4.1 billion
(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 2 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 6 out of 183 countries(2009)

Registering property: 56 out of 183 countries

Paying Taxes: 3 out of 183 countries

Getting credit: 2 out of 183 countries

Protecting investors: 3 out of 183 countries

Trading across border: 2 out of 183 countries

Enforcing Contracts: 2 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		11

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 1 Score: 89.7 (Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+8
Total area 1,104 km2 (2006)
CapitalHong Kong (2009)
CurrencyHong Kong dollars (HKD) (2009)
Government typelimited democracy (2009)
LanguagesChinese (Cantonese) 89.2% (official), other Chinese dialects 6.4%, English 3.2% (official), other 1.2% (2001 census)
Religionseclectic mixture of local religions 90%, Christian 10%
Total population
1980199020002010*2015**
5.06 million5.75 million6.71 million7.12 million7.41 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
85.2%91.5%100%100%
Population median ageN/A
Population growth rate0.4% (2009)
Life expectancyN/A
Adult literacyN/A
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

43.4 (1996)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

N/A

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

251.82% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population69.4% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Hong Kong: 9th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

5.5244 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST FOREIGN EXCHANGE BANKS

2010:
  • COUNTRY WINNERS HSBC (National, 2010)
2009:
  • COUNTRY WINNERS HSBC (2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2011:
  • COUNTRY WINNERS HSBC (National, 2011)
2010:
  • COUNTRY WINNERS HSBC (National, 2010)
2009:
  • COUNTRY WINNERS HSBC (2009)

WORLD'S BEST DEVELOPED MARKET BANKS

2011:
  • HSBC (National, 2011)
2010:
  • HSBC (National, 2010)
2009:
  • HSBC (2009)

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (National, 2011)
  • COUNTRY WINNERS /Best Corporate / Institutional Internet Banks HSBC (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (National, 2010)
  • COUNTRY WINNERS / Best Corporate/Institutional Internet Banks HSBC (National, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (2009)
  • COUNTRY WINNERS / Best Corporate/Institutional Internet Banks HSBC (2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS Standard Chartered Bank (National, 2011)
2010:
  • COUNTRY WINNERS HSBC (National, 2010)
2009:
  • COUNTRY WINNERS HSBC (2009)

WORLD'S BEST INVESTMENT BANKS

2011:
  • COUNTRY WINNERS China International Capital (National, 2011)
  • COUNTRY WINNERS Corporation (CICC) (National, 2011)
2010:
  • COUNTRY WINNERS China International Capital Corporation (CICC) (National, 2010)
2009:
  • COUNTRY WINNERS China International Capital (National, 2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2011:
  • COUNTRY WINNERS HSBC (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE